Former Sebi chairman backs increased fee for directors
3 weeks, 4 days ago

Former Sebi chairman backs increased fee for directors

Live Mint  

Recognizing the increased responsibilities of the Board and the directors and longer number of hours required for productive Board meetings, M. Damodaran, former chairman of the Securities and Exchange Board of India recommended increasing the sitting fees of directors. In FY24, only 29 of the 72 companies considered for the survey paid ₹1 lakh in sitting fees to directors, data gathered by the report showed. As per Rule 4 of the Companies Rules, 2014, a company may pay a sitting fee to a director for attending meetings of the Board or committees, which is a sum decided by the Board of directors and does not exceed ₹1 lakh per meeting. Average age of directors Given the pace and the nature of change in the economy and in the corporate world, induction of younger persons on the Boards will increase the relevance of Boards and make the Boards future ready, said the report, adding that as on 31 March 2021, of the 439 IDs, 32 were less than 50 years.

Board Companies Company Report Number Fee Directors Boards Paid Tenure Ids Meetings Damodaran Independent Directors Profit Linked Commission  company  tenure  sebi  increased  ids  backs  companies  meetings  report  chairman  fee  directors  number  paid  board

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